Stocks Turn Modestly Higher, CarMax Nears Buy Point

Stocks recovered from earlier weakness and turned modestly higher near midday Tuesday, with techs leading the pack. Equities had wavered amid mixed data on housing and consumer sentiment.

The Nasdaq rallied 0.4%, lifted by Priceline.com (PCLN), Amazon.com (AMZN) and Baidu (BIDU). At Tuesday's low, the Nasdaq was off by as much as 0.3%. Meanwhile, the Dow Jones industrial average and the S&P 500 rose 0.1% each. Volume was tracking mixed in the stock market today. Nasdaq trade was tracking slightly higher, while NYSE turnover was tracking lower.

Consumer confidence for September was weaker than the Street expected, according to Econoday. But the Federal Housing Finance Agency's house price index beat views.

Facebook (FB) gapped up and popped nearly 5% after Citigroup upgraded the stock to buy from neutral and lifted the price target more than 70%, to 55. The stock is extended after clearing a 39.42 alternative buy point Aug. 23.

CarMax (KMX) rallied 4% after reporting second-quarter sales and earnings well above consensus projections. The company said comparable sales of used cars rose 16% during the quarter. The stock is near a 52.37 buy point in a three-weeks tight pattern.

Caesarstone (CSTE) added 2% as it followed through from Monday's breakout. It's now 1% past a 44.80 buy point from a cup base. While volume was strong in Monday's breakout, the stock closed below its buy point. Caesarstone is an Israeli maker of quartz countertops. Analysts polled by Thomson Reuters see earnings rising 27% for the year.

See Also

Google's (NASDAQ:GOOGL) new computer doesn't look much like one. In addition to the debut of its new Chromebooks Tuesday, the Internet giant unveiled a thumb-sized dongle that can transform any TV or monitor display into a full-fledged computer with Chrome OS. As big as a streaming stick or USB ...

Ambarella (NASDAQ:AMBA) has reached profit-taking zone less than one month after clearing its consolidation. The GoPro (NASDAQ:GPRO) chip supplier may have worried investors last week, when it sank almost all the way back to the buy point in intraday trade as the entire chipmaker group sold off. ...

GoDaddy (NYSE:GDDY) is set to price its initial public offering after the close Tuesday in a deal set to raise about $396 million, giving it a market valuation near $3 billion. The company is the largest provider of Web hosting services, including domain names and website building. It says it has ...

Used-auto dealer CarMax (NYSE:KMX) is trading near record highs as it prepares to report fiscal fourth-quarter results this week, with analysts expecting the company to continue its recent run of strong financial growth. CarMax, which gets a high IBD Composite Rating of 93 out of a possible 99, is ...

Google (NASDAQ:GOOGL) will again dominate global search ad revenue this year, says eMarketer, but Baidu is growing faster as more Chinese citizens shop online. The research firm says Google's share of global search ad revenue will slip this year, but barely, to 54.5% from 54.7%. This is despite ...

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Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms. All times are Eastern United States. *Reflects real-time index prices.